Asia will reportedly lead the global LNG regasification industry in capacity growth from newbuild projects by 2023, says GlobalData.
According to Reuters, low LNG spot prices are having little impact in Asian markets, while the European import market has seen a significant boost.
Asian LNG spot prices have slipped in response to a surge in supply, which has flooded the market at a time when regional demand has remained stable.
Asian LNG spot prices rose this week, tracking higher oil prices and benefitting from production curbs in Australia.
First Gen Corp. has held a ground-breaking ceremony and finished the pre-development work for its new LNG terminal.
Asian LNG spot prices have now broken the US$5.00 per million Btu mark, a result of a lack of growth in demand and continued high levels of supply.
Phoenix Petroleum and CNOOC have signed a deal with PNOC regarding the planned Tanglawan LNG hub project.